CAP. 61
[s. 61 cont.]
Power to allow bankrupt to manage property.
4 & 5 Geo. 5, c. 59, s. 57.
Allowance to bankrupt for maintenance or service.
4 & 5 Geo. 5, c. 59, s. 58.
Right of trustee to inspect goods pawned, etc.
4 & 5 Geo. 5, c. 59, s. 59.
Bankruptcy.
claiming to be creditors in respect of any debts provable under the bankruptcy;
(h) make such compromise or other arrangement as may be thought expedient with respect to any claim arising out of or incidental to the property of the bankrupt, made or capable of being made on the trustee by any person or by the trustee on any person;
(i) divide in its existing form amongst the creditors, according to its estimated value, any property which from its peculiar nature or other special circumstances cannot be readily or advantageously sold. The permission given for the purposes of this section shall not be a general permission to do all or any of the above-mentioned things but shall only be a permission to do the particular thing or things for which permission is sought in the specified case or cases.
62. The trustee, with the permission of the committee of inspection, may appoint the bankrupt himself to superintend the management of the property of the bankrupt or of any part thereof, or to carry on the trade (if any) of the bankrupt for the benefit of his creditors, and in any other respect to aid in administering the property, in such manner and on such terms as the trustee may direct.
63. The trustee may from time to time, with the permission of the committee of inspection, make such allowance as he may think just to the bankrupt out of his property for the support of the bankrupt and his family, or in consideration of his services if he is engaged in winding up his estate, but any such allowance may be reduced by the court.
64. Where any goods of a debtor against whom a receiving order has been made are held by any person by way of pledge, pawn or other security, it shall be lawful for the Official Receiver or trustee, after giving notice in writing of his intention to do so, to inspect the goods, and where such notice has been given, such person as aforesaid shall not be entitled to realize his security until he has given the trustee a reasonable opportunity of inspecting the goods and of exercising his right of redemption if he thinks fit to do so.
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Page 50
Page 51
CAP. 61
[s. 61 cont.]
Power to allow bank- rupt to
manage property.
4 & 5 Geo. 5, c. 59, s. 57.
Allowance
to bankrupt for mainten- ance or -service.
4 & 5 Geo. 5, c. 59, s. 58.
Right of trustee to inspect
goods pawned. etc.
4 & 5 Geo. 5. c. 59, s. 59.
Bankruptcy.
claiming to be creditors in respect of any debts provable under the bankruptcy;
(h) make such compromise or other arrangement as may be thought expedient with respect to any claim arising out of or incidental to the property of the bankrupt, made or capable of being made on the trustee by any person or by the trustee on any person;
(i) divide in its existing form amongst the creditors, according to its estimated value, any property which from its peculiar nature or other special circum- stances cannot be readily or advantageously sold. The permission given for the purposes of this section shall not be a general permission to do all or any of the above- mentioned things but shall only be a permission to do the particular thing or things for which permission is sought in the specified case or cases.
62. The trustee, with the permission of the committee. of inspection, may appoint the bankrupt himself to super- intend the management of the property of the bankrupt or of any part thereof, or to carry on the trade (if any) of the bankrupt for the benefit of his creditors, and in any other respect to aid in administering the property, in such manner and on such terms as the trustee may direct.
63. The trustee may from time to time, with the permis- sion of the committee of inspection, make such allowance as he may think just to the bankrupt out of his property for the support of the bankrupt and his family, or in considera- tion of his services if he is engaged in winding up his estate, but any such allowance may be reduced by the court.
64. Where any goods of a debtor against whom a receiving order has been made are held by any person by way of pledge, pawn or other security, it shall be lawful for the Official Receiver or trustee, after giving notice in writing of his intention to do so, to inspect the goods, and where such notice has been given, such person as aforesaid shall not be entitled to realize his security until he has given the trustee a reasonable opportunity of inspecting the goods and of exercising his right of redemption if he thinks fit to
do so.
220
Page 50Page 51
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